Requlred information On January 1, 2022, Palmcroft Company acquired 100 percent of the outstanding voting shares of Salt River, Incorporated, for $752,000 cash. At January 1, 2022, Salt River's net assets had a total carrying amount of $526,400. Equlpment (elght-year remaining IIfe) was undervalued on Salt River's financlal records by $104,000. Any remalning excess falr over book value was attributed to a database developed by Salt River (four-year remalning life), but not recorded on Its books. Palmcroft applies the equity method to account for Its Investment In Salt River. Each year since the acquisition, Salt River has declared a $16,000 dividend. Salt River recorded net Income of $106,000 in 2022 and $118,700 In 2023. Selected account balances from the two companles' individual records were as follows: Its December 31, 2024, consolidated balance sheet, what amount should Palmcroft report for Salt River's database Multiple Choice $12,160 $30,400 $60,800 $24,320